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5 Tips To Expand Your Home Based Business

So you’ve figured out which home based business works best for you and are already on your way to making a great living from it. That sounds absolutely wonderful and everything should be rolling along perfectly. Yet, you find that you are now craving for a new challenge? Something more to get you excited all over again? A way to get the adrenaline pumping?

OK, bungee jumping off the nearest bridge is a great way to get the adrenaline going. But better yet, why not look at expanding your home based Internet business? Now that you have something concrete to work with, it is time perhaps to push the envelope a bit further and become more ambitious. Raise the bar and aim higher.

Here are some great tips to help you expand your home based business:

1. Hire help-- This is the first sign that you are ready and willing to expand. If you have enough work on your hands that you are finally admitting you need help, then you are in effect expanding. Hiring help does not mean putting people on the payroll. It can be something as simple as hiring the services of a freelance writer to do some copywriting for you or paying the next door kid to baby sit your toddler and give you an extra hour of work time. Elance.com is a great place to find inexpensive help.

2. Move out of your home office-- This is a BIG one. If your home based business is doing well enough to allow you to move out, then do it. It is a difficult choice to make but an expanding business needs space to grow else it will start wilting. If you really enjoy the benefits of working at home too much to do this is sell the business! You worked hard on it, yes, but let that baby go and do it again. Businesses that make $100,000 per year profit can sometimes sell for as much as a half million dollars. Take part of that money and invest it. Take another part of it and use it to start up a new business the right way!

3. Add variety to the services you provide-- This is a great way to expand. If it would be very difficult to start another new business, instead add a new range of products or services that complement your primary service.

4. Network with other professionals-- Once you decide to provide more products and services, it does not necessarily mean you have to do it all yourself. You can always tie in with other professionals and provide your clients with a turnkey solution to their problems. All you need to do then is act as a liaison between the two and earn healthy commissions. The absolute best way to do this is to attend conferences in your industry. Make friends. Force yourself if you're naturally shy. It will pay off in ways you can't imagine.

5. Take a few risks-- Now that you have managed to succeed at your original home business perhaps it is time to take a few risks. Try out the novel idea you always thought would work but were unsure of. If your gut is telling you something listen to it and you may just be surprised. Sometimes expansion requires you to take a leap of faith.

Whether you do expand your home based business or not is entirely up to you. However, remember that with expansion will come a greater commitment of your time and longer working hours. Are you ready to deal with that? And if you are, is your family ready to accept the new, working you? If all lights are green, GO.

 

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